About the job
Exploring the Dual Nature of Blockchain: Strengths and Weaknesses
Permissionless systems can lead to fragmentation of understanding.
Decentralization may result in confusing standards.
Immutability increases the complexity of data and query infrastructures.
Neutrality leaves interpretations without clear accountability.
Blockchain data is publicly accessible but not suitable for institutional use. Its open nature results in fragmentation, challenging interpretation, and maintenance. For instance, answering a straightforward query like “Who are the largest Ethereum token holders over time?” can involve significant technical steps, including running nodes, processing full chain history, decoding contracts, and formulating intricate SQL queries.
Blockchains excel in writing, not reading. They prioritize consensus and execution over searchability, standardization, or financial interpretation. Blockchains function more like computers than databases, with each protocol establishing its own schema. The same economic action can be represented in various formats, leading to:
Fragmented standards
Increased complexity
Accountability issues in interpretation
Events devoid of economic significance
Finance requires a reliable system of record to function effectively.
Join Allium: Pioneering the System of Record for Onchain Finance
At Allium, we ingest, validate, and standardize data across over 140 blockchains and 30 petabytes of historical data. We address four critical gaps that hinder blockchains from serving as systems of record:
Semantic Gap: Converting raw events into financial concepts such as payments, trades, deposits, and staking income.
Standardization Gap: Creating a unified cross-chain schema from thousands of protocols.
Infrastructure Gap: Delivering read-optimized data on a global scale.
Interpretation Gap: Providing clear, accountable interpretations of blockchain events.

